Who are they and Y are they important for your company? Who are the next baby boomers anyways? Well, we’re sure you are aware of the last baby boomers. You know the ones who were the main consumers that launched the growth of the first and largest fortune 500 companies, the very same companies that are still around and thriving today. Who are the next ones? Who is going to take over, and who’s going to be the main consumers of these big corporations today? Well here’s a hint…
They started the growth, and continue to be the majority of the population of the fastest growing companies of all time; major new companies of today.
Have you ever heard of Myspace, Youtube, or maybe you’ve heard of Face book. That’s right the next baby boomers are the reason for the record breaking growth that those major companies above experience on almost a daily basis. NULL If you haven’t guessed it already, the name of the next baby boomer generation is… “Generation Y” (market group born between 1977-1994, often referred to as Gen Y, Echo Baby Boomers or The Millennial Group). They are called by some the Google generation, the information generation, and yes they will lead the world changing “Information age”. Haven’t heard all the hype of the information age? Well, the just released TIME magazine’s 2006 person of the year issue explains it all. Are you doing what it takes to position your company in front of this massive wave of consumers, business leaders, and independent entrepreneurial, energetic superstars? Let us ask you another question. When you or the people in your company retire, who will take over? Have you learned enough about this generation? Who will ensure the future of your company? Here are some statistics that just might help you understand the importance and the power that you could harness for your company. You could acquire the power only if you learn and apply what to say and what to do to attract them. There is however no consensus as to the exact range of birth years that constitutes “Generation Y” but this is one definition that we have found below. Born between 1981 and 1995, Generation Y members in America are more than 57 million strong. Other definitions say that there’s 77 million of Gen Yers’ born in the time lines of 1977-1994. The statistics below are for the 57 million alone born between 1981 and 1995. The Y generation is the largest consumer group in the history of the U.S. Other names for Gen Y include Echo Boomers and the Millennium Generation. Members of the Y Generation have annual incomes totaling $211 billion, according to a study from Harris Interactive. The study found that Generation Y spends $172 billion per year and saves $39 billion per year, and drives many adult purchasing decisions. Consequently, the Y Generation represents the future market for most consumer brands. The study also found that pre-teens (ages 8-12) spend $19.1 billion annually, while teens (13-19) spend $94.7 billion annually and young adults (20-21) spend $61.2 billion. 87 percent of income for children under age 13 years is adult-supplied, compared to 37 percent of teens and 7 percent of young adults, with teens and young adults relying mostly on jobs for their income. Marketing to Generation Y members requires using more involved techniques than the traditional ones used to attract their parents.
Members of Generation Y best respond to marketing methods that bring the message to places the Y Generation congregates, both offline and online.
Successful Generation Y brands are perceived as hip and popular, but without the air of heavy commercialism. Also, Generation Y demographics show that Gen Y is more racially diverse, with one out of three members considering themselves non-Caucasian. One out of every four members of Generation Y lives in a single-parent environment and three in every four have working mothers. Our mission is to be the company to educate other companies and individuals to better understand Generation Y. Who better to educate about this generation than a generation Yer like Mr. Dakota Rea who has learned hands on from some of the best marketers in the world? Dakota, who is already being hired to speak for companies around the globe, is starting to be recognized for the power he brings to companies and eager entrepreneurs. Dakota has invested tens of thousands of dollars of his own money to improve his people skills and the understanding of his peers. Interviewing Generation Yers, parents, professional physiologists, and specialists, has led him to understand all the differences between our generations, from all point of views, and from people of all walks of life. Our new cd set Understanding the Y© (Releasing soon) includes information on all of the above. © Copyright, 2006, Dakota R.G. Rea. All World Rights Reserved.
- How Generation Y is Changing the World! by Dakota Rea - August 1, 2011
- The Key to Creating a Large, Energetic Team of Young Adults by Dakota Rea - November 1, 2009
- Scary Sign: Average age of network marketers by Dakota Rea - February 1, 2009